BUY TRADE SET UPThe USD and CAD have been on a clear uptrend in which many traders have taken long positions and this has also been boosted by the strong dollar index. There will be will a continuation and the uptrend will continue.
Usindex
S&P-500 - is megaphone indeed playing out? TVC:SPX went below February highs and broke down key support levels.
If megaphone is indeed playing out, we are just at the very beginning of the move down.
"Buying the dip" might lead to some very negative surprises at the moment, so extra caution is required.
BULLISH LEAD AGAIN after last our analysis at 1H time frame for bullish harmonic BAT was successfully and hit all the targets
now we back to more bigger time frame a daily chart with our analysis AB=CD
so we expect small correction then will hit bullish target levels as shown on the chart
S&P500 updateA continued plunge in tech stocks created massive selling panic. Still looks like profit-taking and market is waiting for a buy back opportunity.
At the moment, we see a retest of the 200SMA and a broken pre-COVID high zone. A reverse pattern on smaller time frames could indicate another push lower.
Fundamentals remain unstable as geopolitical relations continue to deteriorate. US and China are at it again. So far, Trump is not backing down from his comments to cut more economic ties.
Please support the idea and share your thoughts on S&P500!
Good Luck and Stay Healthy!
DOLLAR INDEX/ US INDEXWITH THE RALLY OF ANY NATION STOCK MARKETS, ITS TENDS TO DIFFER FROM ITS CURRENCIES PERFORMANCE.
WE HAVE SEEN THIS WITH THE US,STOCK MARKET AND THE DOLLAR INDEX. THAT BEING SAID WITH THE RECENT BEARISH DOLLAR TREND, I HAVE HIGHLIGHTED OUT MY AREAS OF SUPPLY. TO HOPEFULLY CATCH THE LAST DROPS OF THIS MONTH.
correction setup my last idea AB = CD for DXY still valid this is the bullish correction in general view
for lower time frame we expect bull back as shown on the chart hit support
S&P500 channelChannel still holds, nor consolidating near resistance level. Also formed a small falling channel. So far technicals show continuation higher. Wait for the impulsive break of the level to buy.
Please support the idea and share your thoughts on S&P500!
Good Luck and Stay Healthy!
DXY (US INDEX) BUYING FROM SUPPORT AREA we are start buying dxy from this strong support zone
and looking for great profits with small risk
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BULL BACK SETUP acDXY reach good support area so we expect bull back setup to back to bearish again after hit one of tow strong resistance
according to AB=CD as shown on the chart
DXYMy view on DXY (us dollar index) we have entered the buy as there possibilty for turning piont at this area, with keeping in mind there can be more to down side as shown on chart,
always plan your trade before enter any trade
Trade with care !
Regards, Ali Dib
The Chart Trader
check the attached chart for dxy at the bottom to see how we been able to forecast this pair from two years with high accuracy
US INDEX STILL UNDER PRESSURE ( BEARISH LEAD )price almost reach support level also we have another monthly up trend support line at the same level of support area
we expect retest the resistance area before drop down to support levels and cross the monthly uptrend
as shown on the chart
note \ just we will wait to see Monday reaction on the market
still having some space to going down before jumping up sharpUS index gonna have deeper consolidate before getting ready for long. maybe we need to wait for reaching $93 price. then we can look for big long trade.
LAST WAVE BE READY FOR BULLISH we still trade it as we plane for harmonic pattern
so we expecting this will be last wave for bearish and broke channel ,
we will be ready for bullish we dont sell it we will wait for buy
to the levels as shown on the chart
NASDAQ Divergence on the Daily chartTake a look at the divergence that happened in February 2020. Well that same divergence has happened once again in a similar scale so we can expect a similar type of sell off. Not to mention how overbought the Nasdaq is doing, many will take this as a sign to take their profits.
LONG Setup For US Dollar IndexKey Trading Plan:
i) LONG from the current price with the Take Profit 1 Target at resistance level of 97.59 and even further up at Take Profit Target 2 at 98.98.
ii) SHORT if the price breaks the support level of 95.80 with the Take Profit Target at 95.08.
Dow Jones: Channel Up on 1H with MACD crossing.Dow Jones is trading within a Channel Up on the 1H chart (RSI = 41.064, MACD = -20.100, ADX = 30.196), currently on the bearish leg towards the Higher Low trend-line. The MACD is about to make a green cross, which is a bullsh signal. It can still take a few hours until the formation prices the Higher Low (even sideways) so there is still time to enter. Our TP is 26,500.
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